October 2014, New York, NY - Paradigm Capital, a nation-wide, private commercial real estate bridge lending firm, is pleased to announce that it has funded a $6,500,000.00 1st mortgage, for the refinance of a 15 acre, prime development site situated within a Yacht and Golf Community in Port St. Lucie, FL. The site, which is directly adjacent to the North Fork of the St. Lucie River, has in place approvals which, by right, allow our Borrower to construct 157 rental units. The site is also the only approved development within the counties of St. Lucie and Marin (the adjacent county to the south of St. Lucie) which can be constructed up to a height of 75 feet, all other approved developments are low-rise.
“This transaction was closed in under three weeks due to Paradigm’s willingness to work within our Borrower’s time constraints. We were able to quickly complete our due diligence while navigating any issues which might have delayed the fast turnaround required by our Borrower,” said David Kushner, President of Paradigm Credit Corporation.